your money personality

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Common MoneyBELIEFS

How do you relate to money? Do you see it as a source of freedom or anxiety?

Do you ever talk about money with friends?Are you a saver or a spender?

What’s yourMONEY PERSONA?

Each money persona has its own set of beliefs and behaviours.

Identifying your money persona allows you to better understand and improve your

relationship with money.

AVOIDANCE STATUS WORSHIP VIGILANCE

Most people can relate to at least one of the following money personas:

BILL

Persona #1AVOIDING OSTRICH

• I have piles of unopened mail at home

• Automatic debit is the best thing in the world— I would forget to pay my bills without it

• I’ll open my bank statements, but I only pretend to read them

• The concept of asking my boss for a raise terrifies me

• I never talk to my partner or my friends about money

Does this sound like you? AVOIDING OSTRICH

money persona: avoidance

GUIDING BELIEF:

Money is complicated and almost impossible to manage well

AVOIDING OSTRICH

money persona: avoidance

Main traits: Financial self-sabotage, reluctance to talk about money.

Prone to: Unnecessary late fees, struggles with debt management.

If you’re an Avoiding Ostrich: Don’t be afraid to ask questions at the credit union. Try a new budgeting system or play around with a new personal finance app—anything to make money management less intimidating.

AVOIDING OSTRICH

money persona: avoidance

Persona #2STRUTTIN’ PEACOCK

• I believe that money is meant to be enjoyed

• My ultimate dream is to win the lottery or strike it rich in the stock market

• If I can’t afford something now, I just put it on my credit card and worry about it later

• I love treating my friends to a night out

• If I ever won some money or got a raise, my friends would be the first to know

• I believe brand names make everything better

Does this sound like you? STRUTTIN’ PEACOCK

money persona: status

GUIDING BELIEF:

What’s the point of having money if you can’t enjoy it?

STRUTTIN’ PEACOCK

money persona: status

Main traits: Shopping addiction, desire to impress others, very vocal about money (especially big wins).

Prone to: Overspending, major debt, risky investments, get-rich-quick schemes.

If you’re a Struttin’ Peacock: You need a solid budget to prioritize your spending. Look into frugal hangout/date ideas to see that you can have fun without a hefty price tag.

STRUTTIN’ PEACOCK

money persona: status

Persona #3STASHING CROW

• I think financial success isn’t about spending the most money, it’s about having the most money

• I can be a bit of a workaholic

• Of all my friends, I’m the most competitive

• I geek out over at least one of the following: investing, online deal-hunting, couponing

• I can’t remember the last time I spent more than $100 on something “just for fun”

Does this sound like you? STASHING CROW

money persona: worship

GUIDING BELIEF:

Money is important and scarce and you can never have enough

STASHING CROW

money persona: worship

Main traits: Compulsive shopping habits, hoarder tendencies, workaholic types.

Prone to: Underspending on activities or fun things.

If you’re a Stashing Crow: You need to relax a little bit! Realize that a realistic budget includes saving and spending. Money can be enjoyed responsibly.

STASHING CROW

money persona: worship

Persona #4WARY OWL

• I’m detail-oriented and I love organizing and planning things out

• Stories about hackers, credit card scams and data breaches kind of freak me out

• I’m scared of the consequences of making a bad financial decision

• Investing is not worth it because there’s a chance I could lose everything

• I’m amazing at budgeting

Does this sound like you? WARY OWL

money persona: vigilance

GUIDING BELIEF:

Spending and investing money is what gets people in trouble

WARY OWL

money persona: vigilance

Main traits: Fear or distrust of economy/government, strong desire to “play it safe”, detail-oriented.

Prone to: Extreme underspending, negative effects of inflation, holding money instead of growing it.

If you’re a Wary Owl: Explore new investment products and ways to grow your money—better yet, talk them over with a financial planner.

WARY OWL

money persona: vigilance

Did you relate to more than one persona? Most people are a combination of several money personas.

The next time you’re making a financial decision, play into the strengths of your money persona and avoid its weaknesses.

Sources: Mind Over Money by Brad Klontz, PsyD & Ted Klontz, PhD; Lifehacker.com; The New York Times

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